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At Check City, we are always looking for better ways to meet your short-term financial needs, which is why we created the Check City Personal Loan

Whether you need $300 or $3,000 a Check City Personal Loan will give you the cash you need, at a lower Annual Percentage Rate (APR) than our payday loans! 

Here are a few common questions about personal loans from Check City.

What is a personal loan?

A personal loan is a type of installment loan. Once approved, you receive the proceeds of the loan or cash all at once, and repay the loan on a schedule. Payments can be scheduled on a monthly, semi-monthly, or biweekly basis according to the terms and payment plan of your loan agreement. 

A personal loan can be taken out for your own personal reasons. The funds go directly into your own hand or bank account, granting you freedom in how to spend your money. 

How do personal loans work?

Personal loans are a simple form of long-term loan. They are also a form of installment loan so you can make smaller loan payments on a regular basis rather than paying the loan back all at once. 

Personal loans require an application and approval process to see if you meet the proper qualifications for borrowers. But once you're approved, you can visit a Check City store to pick up your cash or set up a direct deposit to your bank account.

What are the rates and fees?

Traditional payday loans are typically paid back within a matter of weeks.

However, Check City Personal Loans have a 6-month term which allows us to offer a lower Annual Percentage Rate (APR) than our traditional payday loans with monthly payments! Find your state's Rates and Fees Page to learn more.

How do I qualify for a personal loan online?

To qualify for a personal loan online you just need to fill out the online application. 

All you need for the online application are the following items:

  • A Government Issued ID
  • Proof of Bank Account
  • Proof of Direct Deposit
  • Proof of Income
  • Valid Phone Number

How much can I borrow?

Our goal is to help you get approved for the maximum credit amount possible. 

We use a number of underwriting tools to determine credit eligibility and to establish a credit limit. We can let you know what you qualify for in just a few minutes online or in one of our stores.

How much time do I have to repay the loan?

By spacing out the loan payments over a 6-month period Check City is able to offer more flexible affordable payments. 

Each payment that you make goes toward the principal (your initial loan amount) and the interest, so 6 months later your loan is paid in full!

Where can I get a personal loan online?

Check City is an online lender, which makes loan approval fast and convenient. If approved you can get your funds deposited into your online bank account. 

How soon can I get my personal loan?

For online customers, if your loan agreement is signed prior to 7:00 PM Mountain Time (MT) you should receive your loan proceeds by the next business day. Any loan agreements that are approved after 7:00 PM will not fund the next day, but the following business day. When your funds deposit will also vary on weekends. 

For in-store customers, if your loan agreement is signed and approved then you can walk out with your loan funds immediately.

Is there an origination fee?

No, there is no origination fee for personal loans that use automatic ACH payments. However, if a customer decides to opt out of automatic ACH payments, there is a small origination fee. Please see your loan disclosure for terms and conditions.

Reasons to get a personal loan:

The convenience of the personal loan is that they can be used for many different reasons. Whether you need a short-term loan for personal or professional reasons, the Check City can provide the funds you need. 

You can use a Check City Personal Loan for any kind of personal expense or purchase. 

  • medical bills 
  • utility bills
  • rent 
  • home improvements and repairs 
  • moving
  • vehicle repairs

Can I get a loan for my business?

Personal loans can also act as a small business loan. They can help entrepreneurs and other business owners with their business’ financial needs.

We understand that oftentimes businesses are launched and sometimes kept afloat with personal funds of the business owner. So whether you need to make payroll or buy extra materials for a big job you’re doing, a personal loan can help start, expand, or maintain your business.

What’s the difference between a payday loan and a personal loan?

A payday loan is a short-term loan with the full balance due on your next pay date. 

A personal loan has a longer term (6 months), allowing more time to pay off the loan. They also come with an option to refinance for more credit or to lower payments, and have a lower Annual Percentage Rate (APR) than our payday loans.

Can I use my prepaid debit card to qualify for a personal loan?

Currently, we are not set up to use prepaid accounts to qualify customers for a loan.

How long do I have to pay it back?

The loan is set up on a 6-month term, and payments coincide with your regular pay dates during the life of the loan.

Can I refinance?

If approved, refinancing is available for customers who qualify. After your first successful loan payment, you can request to refinance your loan anytime to access credit that is still available to you.

Can I make early payments?

Yes, customers have the option to make early payments. Customers can pay off the loan amount faster by paying early.

Can I make larger payments?

Yes, customers have the option to make larger payments in order to pay the loan off quicker. For payments that are larger than the scheduled amount due, the extra payment will be applied toward the principal loan amount.

Can I make partial payments?

Yes, customers have the option to make partial payments. Partial payments are first applied to the finance charge and then the principal loan amount. 

The due date will not be extended unless the entire finance charge and the entire principal amount have been paid. A partial payment can be accepted whether the customer is on time or late.

What happens if my payment is late or I fail to make a payment?

If a customer misses a payment or is late making a payment then Check City will work with the borrower to help them get back on track. Our friendly loan agents are eager to help our customers whenever they can.

Check City may attempt to contact you using one or more authorized contact methods to arrange for payment. Authorized contact methods may include phone calls, emails, or text messages.

Check City may charge you a fee pursuant to the terms of your loan agreement for late or failed payments. Please see your loan agreement for terms and conditions.